Sara Clemence
Screwed: 2,000 at Air France
A daily review of the employment fallout around the country and the world.
Air France is cutting 2,000 jobs after major losses…Canadian aircraft engine manufacturer Pratt & Whitney said it will lay off up to 1,000 workers…
Recession Briefing 2.13
What you need to know today to survive and thrive in the recession.
25 People to Blame for the Financial Crisis (Time)
Picks for the top 25 people to blame for the financial crisis includes everyone from former Federal Reserve chairman Alan Greenspan and former President George W. Bush to the former CEO of Merrill Lynch and you–the American consumer.
No One Home: 1 in 9 Vacant (USA Today)
The surge in empty houses, condominiums and apartments is creating a wave of problems for communities desperate to shore up property values and tax revenues that pay for services.
Obama Wants to Pay Mortgages? (Reuters)
In a major break from existing aid programs, the plan under consideration would seek to help homeowners before they fall into arrears on their loans. Current programs only assist borrowers that are already delinquent.
Paid Testimony: Update
Yesterday, I estimated how much the eight bank C.E.O.s who testified in Congress were making for the day, using what I thought were the latest numbers. Turns out, I missed them being asked about their 2008 pay during the seven hours of questioning. (See video at The Business Insider.) So here’s an update.
Screwed: 10,000 at Pioneer
A daily review of the employment fallout around the country and the world.
Japanese electronics company Pioneer Corp. will cut 10,000 jobs globally to cope with sinking sales of car audio equipment and flat-screen TVs…International Rectifier will eliminate 850 jobs…
Recession Briefing 2.12
What you need to know today to survive and thrive in the recession.
The Recession. Isn’t It Romantic? (NY Times)
Online and offline matchmakers are reporting that dating interest is up, way up. Match.com, for instance, had its strongest fourth quarter in the last seven years.
Lawmakers Pull Few Punches With Bank Executives (WSJ)
Chief executives at eight banks and securities firms that have gotten $165 billion in federal aid were barraged by U.S. lawmakers, who showed little patience for a charm offensive aimed at defusing ire over pay and lending.
The Fools on the Hill (Daily Beast)
The CEOs of the major banks may not have looked like captains of the universe yesterday, but the House committee was a major embarrassment as well. Does anyone actually want to solve this crisis?
Paid Testimony
What’s a day’s pay for being spanked by Barney Frank? If you’re Lloyd Blankfein, about $250,000.
Screwed: 10,000 at GM
A daily review of the employment fallout around the country.
GM is laying off 10,000 employees this year…Royal Bank of Scotland is trimming 2,300 positions in the U.K….
Recession Briefing 2.11
What you need to know today to survive and thrive in the recession.
In A Toy Store Near You: Wall Street Victim Play Set (Cityfile)
“These poor people represent the emotions many of us went through as we watched our investments plummet to unimaginable lows and then plummet some more,” reads McPhee’s product description.
Some Banks Want to Return Government Money
(NY Times)
Goldman and Morgan Stanley would rather pay back billions in bailout money than let the feds have more say in their business.
Second Careers for Failed C.E.O.s
Everyone is slamming C.E.O.s for their incompetence and excessive spending (conveniently forgetting that two years ago we didn’t care as long as we were making money, too). These guys don’t need to be judged—they need sympathy, understanding, and most of all, job advice. So we thought we’d suggest second careers for some of the Recession’s fallen corporate heroes.
The Cure for Aeron Chair Withdrawal
We were barely able to write this post because we’re so busy doing Wall Angels. What are Wall Angels? Practically miraculous—and free—posture-picker-uppers, perfect for new freelancers/consultants/employment-challenged individuals who are hunched over their dining room tables.
Special Sections
